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A father sold 50% of his business to his son. The resulting partnership had a profit of $120,000. Capital is a material income-producing factor. The

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A father sold 50% of his business to his son. The resulting partnership had a profit of $120,000. Capital is a material income-producing factor. The father performed services worth $60,00, which is reasonable compensation, and the son performed no services. How much is required to be allocated to the father as compensation? $20,000 $30,000 $60,000 $50,000

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